University of Bath School of Management

Related Links:

• ►Professor Richard Elliott
• ►Halcrow Group Ltd
• ►Margaret Heffernan
• ►Klaus Meyer
• ►Michael Mayer
• ►RNIBEE

Students, staff and alumni from the School of Management were invited to a lively panel debate on Wednesday 6th May to discuss how companies can strategically manage their way through the global recession.

In line with the School’s ethos of combining practitioner experience with academic theory, the panel comprised senior business leaders along with School of Management academics.

Chaired by Professor Richard Elliott, Dean of the School of Management, the panellists explored how businesses have to respond to the immediate pressures of the crisis, while rethinking their long-term strategies.

Andrew Payne, Strategic Relations Development Director of Halcrow Group Ltd and Bath MBA alumnus, outlined how Halcrow has responded to the crisis. Whilst they have faced contraction in some business sectors, other activities were actually booming due to (at least temporarily) increased spending in infrastructure development – not necessarily in the UK. At the same time, they have implemented a crisis response programme around their three C’s “client care, cost control and cash collection.”

Margaret Heffernan, a serial entrepreneur who has run several businesses during earlier recessions, emphasised the crisis as an opportunity for entrepreneurs to make their mark. She argued that recessions can perversely be beneficial since they force organizations to stop and think about their businesses, about their processes, their product offerings, their customer base, and made changes accordingly.

Klaus Meyer, Professor of Strategy and International Business, characterised the crisis as a structural break after which the dynamics of the economy are likely to be substantially different. Businesses thus have to develop a short-term survival strategy while at the same time positioning their business for the economic recovery, at which time the best opportunities may arise from new business models and in new industry segments.

Michael Mayer, Professor of Strategy and Director of MBA Programmes, integrated the multiple perspectives, and emphasised the importance of ‘framing’ the debate – both within the corporation and within the public domain. Focusing on the opportunities for new business and the need for corporate change is important in order to motivate staff to take appropriate action.

The discussion emphasised that the current economic situation – as seen by entrepreneurs and the corporate boardroom – is both challenging but at the same time can create many opportunities. Overall, the panellists encouraged businesses and graduates to look for entrepreneurial opportunity rather than being overwhelmed by widespread fatalism.

Speaking about the event last week, Professor Richard Elliott said:

“I was delighted to welcome back both Andrew and Margaret to the School and to see so many of our students engaging in the discussion. At Bath, our combination of world-class research combined with a unique emphasis on real-world learning makes panel discussions such as these very powerful.”

The event was organized by the School of Management’s Research Network for International Business and Emerging Economies (RNIBEE). For further information and to find out about future seminars please contact Professor Klaus Meyer.